INSUBCONTINENT EXCLUSIVE:
Nirmala Sitharaman has asked regulators to maintain vigil on financial sectorsMumbai: In the backdrop of the mounting Russia-Ukraine
conflict, finance minister Nirmala Sitharaman on Tuesday asked regulators to maintain constant vigil on the financial sector.She expressed
these views during the meeting of the financial stability and development council (FSDC), which was attended by various financial sector
regulators and also the Reserve Bank of India (RBI) governor Shaktikanta Das.The council also discussed measures required for further
development of the financial sector and to achieve an inclusive economic growth with macroeconomic stability."The council deliberated on the
various mandates of the FSDC and major macro-financial challenges arising in view of global and domestic developments
financial institutions, especially considering that it could expose financial vulnerabilities in the medium and long-term," the finance
ministry said in a statement.The council discussed measures required for further development of the financial sector and to achieve an
inclusive economic growth with macroeconomic stability, official sources said.The meeting was also attended by junior finance minister
Bhagwat Karad, finance secretary T V Somanathan, economic affairs secretary Ajay Seth, revenue secretary Tarun Bajaj, financial services
secretary Sanjay Malhotra and Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi among others.This was the first meeting of
the high-level panel after the presentation of the budget
The previous meeting was held on September 3, 2021.The FSDC has been set up by the government in consultation with financial market
regulators, to strengthen the mechanism for maintaining financial stability, enhance inter-regulatory coordination and promote financial
